#United States #Tampa #Markd #Irys Insurtech #AI-native technology

Irys Secures $12.5 Million Investment to Revolutionize Insurance Software

In a significant move for the insurtech industry, Irys has recently announced a successful funding round, closing at $12.5 million. This initial seed funding, led by Markd, brings in contributions from several prominent investors including Deepwork Capital, Florida Opportunity Fund, Ansay Associates, HICO Ventures, and JMG Capital. The influx of capital will be directed towards expanding the company's engineering capabilities, accelerating implementation processes, and scaling distribution partnerships throughout the United States and Canada.

Addressing the Industry's Pain Points

For years, the insurance landscape has struggled with outdated frameworks and systems that fail to prioritize user-friendliness and efficiency. Margeaux Giles, CEO of Irys, speaks from experience, having spent 15 years managing agencies that operated on technology which lacked adoption considerations. She states, "The industry's been trapped in contracts, broken platforms, and empty promises. It's eroded the trust agents fight to build every day with their clients. Irys is how we fix that."

The Irys platform replaces antiquated systems with an AI-native, integration-agnostic operating system that brings together financial, operational, and sales data in real-time. This innovation enables robust automation, significantly increasing service capacity and profitability without the usual need for additional personnel. Giles emphasizes the potential of their technology, highlighting how basic automation has proven effective, stating, "If basic AI can double a service rep's book from $200K to $500K, imagine what agentic AI can do for an organization that can actually implement it."

Pioneering Change in the Insurance Sector

Already, Irys is making waves in the industry with several leading brokerages and Managing General Agents (MGAs) endorsing their system, a network that represents nearly $1 billion in active written premium. The company is initiating agency cohorts to further explore its frictionless approach to implementation, which enables agencies to transition without the burdens of data migration.

According to Parker Beauchamp, Managing Partner at Markd, "The market has confirmed insurance leaders are done stacking third-party tools just to work around outdated systems. Irys isn't just a new Agency Management System (AMS); it's the entire backbone of a modern insurance operation. It consolidates CRM, analytics, accounting, task management, and documentation, streamlining the process to unprecedented levels of efficiency."

A Resurgence of Investor Confidence

The timing of this funding is critical. The insurtech investment landscape is showing signs of rejuvenation, with a 28% increase in global funding in the last quarter, according to Gallagher Re. Investors are shifting their focus towards platforms capable of delivering genuine infrastructure updates, and Irys is at the forefront of this transformation. Its decentralized backend, open APIs, and advanced AI functionalities position it as the operational hub for future insurance enterprises.

In the words of Giles, "OpenAI and Google are rewriting what's possible every six weeks. Insurance can't afford to fall behind. Irys serves as the bridge linking contemporary innovation to our industry." With the latest funding round completed, Irys aims to bolster its engineering and customer success teams, expand distribution partnerships, and roll out additional AI-driven modules for accounting, analytics, and submission management in early 2026.

Conclusion

Irys is forging a path of innovation within the insurance sector, striving to create a more cohesive and functional future for agencies around the world. As it steps into a new era of insurtech, the company is determined to reshape traditional perceptions and practices surrounding insurance software—an ambitious yet necessary endeavor in a fast-evolving digital landscape.